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Biotech / Medical : Antex Biologics (ANTX) -- Ignore unavailable to you. Want to Upgrade?

To: LPasko who wrote (867)	4/23/1998 6:48:00 AM
From: F. Jay Abella, III	Read Replies (1) \| Respond to of 1476

Hi All: I have watched a company called Palatin Technologies. Last year, they did the same thing that ANTX is trying to do, and are now listed on Nasdaq. The price now is slightly above where it was before a 1-4 split; and that's after a 6mm share S-3 was registered. Who knows how many shares of that have been transferred to date? The bottom line is that even with a potentially huge overhang, institutions talk to PLTN now (they were more reluctant pre-split). These firms can buy the stock based on the merits of the company, and are no longer prohibited by PLTN's capital structure. Other analysts can begin covering it. Assumedly more demand can be created, more liquidity, less manipulation (as many have accused), and the shares can be moved into some truly long term hands (and are not subject to trading around a core position) like now. This is exactly what many on this board have zealously pleaded Vic Esposito to do. Now he's doing it, people are mad, and the stock is plunging. See what I mean about moving the shares in large blocks to instiutions from retail? But then again, I am partially to blame for calling ANTX shares a "technician's game" until the Phase II campylobacter results or Phase I helicobacter results come out. It will be at that point, IMO, the company becomes a long term hold, as getting its corporate finance house in order will be facilitated. FJA PS - By the way, I had ANTX on my "roundtrip" list of above average volatility and not the 50-75% list for a reason. westergaard.com:8080/Med/MEDPE/1998/weekof98010509/thur.htm The roundtrip has begun.